Bill Text: NY A04406 | 2019-2020 | General Assembly | Amended

New York Assembly Bill 4406 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Enacts the residential structure fire prevention act of 2019; provides a tax credit to homeowners who remove cock loft fire hazards in their homes; provides an insurance discount for the installation of smoke detecting alarm devices in cock lofts; provides that the repair of cock lofts for the purpose of fire prevention and safety shall be qualifying expenditures under state housing programs.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Vetoed) 2019-11-20 - VETOED MEMO.147 [A04406 Detail]

Download: New_York-2019-A04406-Amended.html

                STATE OF NEW YORK
        ________________________________________________________________________
                                         4406--A
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 4, 2019
                                       ___________
        Introduced by M. of A. LENTOL -- read once and referred to the Committee
          on  Ways  and  Means  --  committee  discharged, bill amended, ordered
          reprinted as amended and recommitted to said committee
        AN ACT to amend the tax law, the insurance law and the executive law, in
          relation to enacting the residential structure fire prevention act  of
          2019
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. This act shall be known and may be cited as  the  "residen-
     2  tial structure fire prevention act of 2019".
     3    §  2. Section 606 of the tax law is amended by adding a new subsection
     4  (jjj) to read as follows:
     5    (jjj) Credit for removing certain fire hazards. (1) Any resident owner
     6  of  real property as defined in section one  hundred  two  of  the  real
     7  property  tax  law  shall  be allowed a credit against the tax otherwise
     8  imposed under this article in an amount equal to twenty-five percent  of
     9  the  cost  of  removing  fire  hazards  commonly known as cock lofts, or
    10  installing fire sprinklers per the New York state uniform code,  or  the
    11  New  York  city construction code for properties located within the city
    12  of New York, provided that such credit shall not  exceed  five  thousand
    13  dollars.  For purposes of this section the term "cock loft" shall mean a
    14  completely enclosed space between rafters and a suspended ceiling.
    15    (2) If the amount of the credit allowed under this subsection for  any
    16  taxable  year  shall exceed the taxpayer's tax for such year, the excess
    17  shall be treated as an overpayment of tax to be credited or refunded  in
    18  accordance with the provisions of section six hundred eighty-six of this
    19  article, provided, however, that no interest shall be paid thereon.
    20    §  3.  Section  2346  of  the insurance law is amended by adding a new
    21  subsection 6 to read as follows:
    22    6. The superintendent shall provide  for  an  actuarially  appropriate
    23  reduction  in the rates of fire insurance premiums or the fire insurance
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08238-02-9

        A. 4406--A                          2
     1  component of homeowners insurance  premiums  applicable  to  residential
     2  real property equipped with smoke detecting alarm devices in cock lofts.
     3  The  superintendent  shall  by  regulation establish standards for smoke
     4  detecting  alarm  devices  in  cock lofts, including the safe and secure
     5  installation thereof. For the purposes of this subsection,  "cock  loft"
     6  shall  mean  a completely enclosed space between rafters and a suspended
     7  ceiling.
     8    § 4. The executive law is amended by adding a  new  section  170-c  to
     9  read as follows:
    10    §  170-c. Repair of certain fire hazards. Any state agency or authori-
    11  ty, including but not limited to the New York state energy research  and
    12  development  authority,  division  of  housing and community renewal and
    13  state of New York mortgage agency, that provides a housing program shall
    14  include the repair of cock lofts for the purpose of fire prevention  and
    15  safety  as  a  qualifying  expenditure  under  any such program. For the
    16  purposes of this section, "cock loft" shall mean a  completely  enclosed
    17  space between rafters and a suspended ceiling.
    18    § 5. This act shall take effect immediately and shall apply to taxable
    19  years beginning on or after January 1, 2020.